Spanish fashion retailer Tendam sees 2 billion euro valuation in IPO

Spanish fashion retailer Tendam is considering launching an initial public offering in Madrid in a deal that would value the company at 2 billion euros ($2.28 billion), newspaper Cinco Dias reported on Tuesday citing unidentified market sources.

Tendam's shareholders, buyout funds PAI and CVC, also evaluate selling the company, Cinco Dias added.

The company, formerly known as Cortefiel, was listed on the Madrid stock exchange until 2005, when it was taken over by buyout funds.

A Tendam spokesperson declined to comment.